Dogecoin – Daily Tech Analysis – September 15th, 2021


Dogecoin

Dogecoin rose by 2.03% on Tuesday. Partially reversing a 5.72% slide from Monday, Dogecoin ended the day at $0.2407.

A mixed start to the day saw Dogecoin fall to an early morning intraday low $0.2338 before making a move.

Steering clear of the first major support level at $0.2252, Dogecoin rose to a late afternoon intraday high $0.2417.

Falling short of the first major resistance level at $0.2494, Dogecoin slipped back to sub-$0.24 levels before finding late support.

At the time of writing, Dogecoin was down by 0.42% to $0.2397. A mixed start to the day saw Dogecoin rise to an early morning high $0.2411 before falling to a low $0.2394.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to avoid the $0.2387 pivot to bring the first major resistance level at $0.2437 into play.

Support from the broader market would be needed, however, for Dogecoin to break out from Tuesday’s high $0.2417.

Barring an extended crypto rally, the first major resistance level would likely cap the upside

In the event of a broad-based crypto rally, Dogecoin could test resistance at $0.25 levels before any pullback. The second major resistance level sits at $0.2466.

A fall through the $0.2387 pivot would bring the first major support level at $0.2358 into play.

Barring another extended sell-off, however, Dogecoin should avoid sub-$0.23 levels. The second major support level at $0.2308 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2358

Pivot Level: $0.2387

First Major Resistance Level: $0.2437

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob



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